Attendees at the 2024 NSW Visitor Economy Forum heard from culture research specialists Fiftyfive5 on what travellers want, how they are planning and booking their travel and ways NSW visitor economy stakeholders can tap into opportunities.​

Fiftyfive5’s Klara de Wit and Victoria Loutas​ explored the socio-cultural drivers of change that will impact tourism over the next three to five years.​

Despite a cost-of-living crisis, almost half of Australians still consider travel to be more important than other discretionary spending.

“However, consumption habits are shifting to ones consumed by memories and experiences rather than things, offering a life more fulfilled,” Fiftyfive5 said.

“Australians will do whatever it takes to get our travel fix in. The cost of not travelling is too high.”

However, with very few roads left untravelled, it has become harder for consumers to feel awestruck on getaways. Experience tourism plays a vital role in reigniting the transformative nature of travel, enabling visitors to connect deeply with local culture, natural landscapes and the people of NSW.

Fiftyfive5 said: “Experiential travel offers an antidote to the numbing of our emotions, reminding us of the joy of unbridled travel.”

While Australians are still prioritising travel, what that looks like is being put under the microscope, with 83 per cent of people who are intending to travel considering ways to economise on their expenditure.

Among the ways Australians are saving money on travel are by going on “hushcations” where they combine remote work with travel, seeking smart travel “hacks” on social media and considering “dupe destinations”, that mirror the look and feel bucket-list locations without the high price tag.

Wellness has also become mandatory for many travellers. It has transcended beyond spa days to deep rest, spiritual awakenings and nostalgia travel in a bid to find peace and progress.

Fiftyfive5 said Australians spend more per capita on their health than most of our global counterparts.

Travellers also have a strong focus on sustainability and “nature-positive” experiences.

“It is code red for the environment and the impact of travel is not lost upon us,” Fiftyfive5 said.

“Instead, we are entering the age of the symbiocene - a future state where humans are re-integrated with the rest of nature- where we travel in harmony with mother nature, not against her.”

“Global boiling” is seeing travellers seek cooler climes, with Fiftyfive5 suggesting there is visitor economy growth to be explored in promoting shoulder season travel.

Multi-generational travel also holds potential for the NSW visitor economy, with the cost-of-living crisis seeing Australians postpone marriage and children and live at home longer. This forges a new target market of extended families travelling together.

At the opposite end of the spectrum, solo travel is on the rise not just for singles but for those seeking solitude to recharge.

Key takeaway questions posed were:

  • In a cost-of-living crisis, how do we allow more people to access the sector than less?
  • How are we redefining the travel experience pre and post-holiday through new technologies such as AI?
  • How is health and wellbeing integrated across the entire sector experience?
  • How are we collectively addressing “global boiling”, one of the greatest disruptors of our industry?
  • Can we rethink traditional industry norms to meet new consumer non-linear expectations?
  • How do we build surprise, delight and awe back into travel?